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Bleak second-quarter numbers hit Dr Reddy's

DALAL STREET SPIKES

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Our Markets Bureau Mumbai
Last Updated : Feb 06 2013 | 5:00 PM IST
Drug maker Dr Reddy's Laboratories ended over one per cent lower on Tuesday after the company reported dismal second-quarter results.
 
While the overall market bounced back in the second half, the stock of the pharma major touched a low of Rs 724, before closing at Rs 734.80, down 1.19 per cent from its previous close. More than 68,000 shares changed hands at the counter.
 
The company's profit for the second quarter ended September 30 was Rs 51.7 crore compared with Rs 92.9 crore during the same period last year.
 
According to market analysts, the results fell way short of market expectations which were expecting around Rs 55-56 crore.
 
Dr Reddy's, one of the early Indian drug firms to have made headway in the lucrative US market, has not had any major generic drug launch there since its exclusive marketing rights for a version of Eli Lilly & Co's anti-depressant Prozac ended in January 2002.

 
 

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First Published: Oct 27 2004 | 12:00 AM IST

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